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XRG STATEMENT RELATED TO ANNOUNCEMENT OF BOROUGE AND BOREALIS COMBINATION AND ACQUISITION OF NOVA CHEMICALS
Abu Dhabi, UAE – March 04, 2025
XRG P.J.S.C ("XRG"), the transformative international energy investment company, welcomes the announcement made by ADNOC and OMV in relation to the agreement to combine Borouge and Borealis and the acquisition of Nova Chemicals, a landmark transaction in the global chemical landscape.
Upon completion of the transaction, and subject to regulatory approvals and customary conditions, ADNOC's stake in Borouge Group International will be transferred to XRG, fully aligning with our ambition to become a top five global chemicals player by 2030 and supporting our global chemicals growth strategy and value-creation agenda.
As a strategic partner and long-term, value-add investor, XRG will be committed to unlocking the full value potential of Borouge Group International.
This transformative transaction reinforces our commitment to Abu Dhabi and the UAE's global leadership in energy and chemicals through strategic investments that are underpinned by macro trends and sustainable economic growth, to drive value for all stakeholders.
Upon completion of the transaction, and subject to regulatory approvals and customary conditions, ADNOC's stake in Borouge Group International will be transferred to XRG, fully aligning with our ambition to become a top five global chemicals player by 2030 and supporting our global chemicals growth strategy and value-creation agenda.
As a strategic partner and long-term, value-add investor, XRG will be committed to unlocking the full value potential of Borouge Group International.
This transformative transaction reinforces our commitment to Abu Dhabi and the UAE's global leadership in energy and chemicals through strategic investments that are underpinned by macro trends and sustainable economic growth, to drive value for all stakeholders.
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